A 22-year-old graduate has given himself the challenge of breaking the British record for a domain name sale.
Umer Malik hopes to sell the justmarket.co.uk domain name for a sum in excess of £560,000 ($911,000), currently the highest figure paid for .co.uk address.
At present, the vacation website cruises.co.uk stands as the priciest domain name ever sold in the UK.
Entrepreneur Malik said he had devised the idea after seeing generic domain names such as insure.com and sex.com sell for seven-figure sums overseas.
“I kept thinking to myself, why do .com domains sell for millions and our UK domains are not even reaching the million mark? I will give a value to our country,” he stated.
“What’s unique about my domain is it can be used for almost anything. Once it sells it can be focused on topics such as insurance or other business related areas.”
The record attempt may prove to be a crafty piece of marketing for Malik, but it remains to be seen whether bidders will meet his asking price.
As an alternative, they may simply choose to register their own domain names, particularly with the upcoming launch of new generic top level domains (New gTLDs).